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Note 2 - Earnings Per Common Share
 9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
2.
Earnings per Common Share
 
Basic earnings per common share (EPS) excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares for assumed issuance of restricted stock.
 
The factors used in the Corporation's earnings per common share computation follow:
 
(Dollar amounts in thousands, except for per share amounts)
  
For the three months ended September 30,
  
For the nine months ended September 30,
   
2020
  
2019
  
2020
  
2019
Net income
   $
1,798
 
   $
2,168
 
   $
4,282
 
   $
6,391
 
Less: Preferred stock dividends
    
—
 
    
—
 
    
91
 
    
91
 
Net income available to common stockholders
   $
1,798
 
   $
2,168
 
   $
4,191
 
   $
6,300
 
Average common shares outstanding
    
2,708,712
 
    
2,698,712
 
    
2,708,712
 
    
2,698,712
 
Add: Dilutive effects of restricted stock awards
    
16,862
 
    
20,816
 
    
14,843
 
    
17,245
 
Average shares and dilutive potential common shares
    
2,725,574
 
    
2,719,528
 
    
2,723,555
 
    
2,715,957
 
Basic earnings per common share
   $
0.66
 
   $
0.80
 
   $
1.55
 
   $
2.33
 
Diluted earnings per common share
   $
0.66
 
   $
0.80
 
   $
1.54
 
   $
2.32